CarMax, Inc. (NYSE:KMX) Shares Sold by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System reduced its stake in CarMax, Inc. (NYSE:KMX) by 5.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,300 shares of the company’s stock after selling 500 shares during the period. Louisiana State Employees Retirement System’s holdings in CarMax were worth $679,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Catalyst Capital Advisors LLC acquired a new position in CarMax in the third quarter valued at approximately $32,000. True Wealth Design LLC boosted its position in shares of CarMax by 4,844.4% during the third quarter. True Wealth Design LLC now owns 445 shares of the company’s stock worth $34,000 after buying an additional 436 shares during the period. Larson Financial Group LLC boosted its position in shares of CarMax by 91.9% during the third quarter. Larson Financial Group LLC now owns 737 shares of the company’s stock worth $57,000 after buying an additional 353 shares during the period. ST Germain D J Co. Inc. acquired a new position in shares of CarMax during the fourth quarter worth approximately $58,000. Finally, Concord Wealth Partners boosted its position in shares of CarMax by 84,400.0% during the third quarter. Concord Wealth Partners now owns 845 shares of the company’s stock worth $65,000 after buying an additional 844 shares during the period.

CarMax Price Performance

Shares of NYSE:KMX opened at $89.28 on Wednesday. The company’s fifty day moving average is $83.47 and its two-hundred day moving average is $79.93. The company has a quick ratio of 0.55, a current ratio of 2.30 and a debt-to-equity ratio of 2.92. CarMax, Inc. has a 12-month low of $65.83 and a 12-month high of $91.25. The company has a market cap of $13.73 billion, a P/E ratio of 30.26, a price-to-earnings-growth ratio of 1.70 and a beta of 1.72.

CarMax (NYSE:KMX) last announced its earnings results on Thursday, December 19th. The company reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.19. CarMax had a net margin of 1.77% and a return on equity of 7.49%. The company had revenue of $6.22 billion for the quarter, compared to the consensus estimate of $6.05 billion. During the same period in the previous year, the business earned $0.52 EPS. The company’s revenue was up 1.2% on a year-over-year basis. Equities analysts expect that CarMax, Inc. will post 3.22 earnings per share for the current fiscal year.

Insider Buying and Selling at CarMax

In other news, CEO William D. Nash sold 120,513 shares of the business’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $83.24, for a total transaction of $10,031,502.12. Following the transaction, the chief executive officer now directly owns 181,683 shares in the company, valued at $15,123,292.92. The trade was a 39.88 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Mohammad Shamim sold 10,000 shares of the business’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $83.77, for a total transaction of $837,700.00. Following the transaction, the executive vice president now owns 11,738 shares in the company, valued at approximately $983,292.26. This represents a 46.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 264,467 shares of company stock valued at $21,915,445 in the last three months. 1.66% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

KMX has been the subject of several analyst reports. StockNews.com upgraded CarMax from a “sell” rating to a “hold” rating in a research report on Friday, December 20th. Truist Financial boosted their target price on CarMax from $72.00 to $88.00 and gave the stock a “hold” rating in a report on Friday, December 20th. Evercore ISI raised CarMax from an “in-line” rating to an “outperform” rating and boosted their target price for the stock from $90.00 to $110.00 in a report on Thursday, February 6th. JPMorgan Chase & Co. boosted their target price on CarMax from $70.00 to $72.00 and gave the stock an “underweight” rating in a report on Friday, December 20th. Finally, Needham & Company LLC boosted their target price on CarMax from $98.00 to $101.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $87.50.

CarMax Company Profile

CarMax, Inc, through its subsidiaries, operates as a retailer of used vehicles and related products in the United States. It operates in two segments: CarMax Sales Operations and CarMax Auto Finance. The CarMax Sales Operations segment offers customers a range of makes and models of used vehicles, including domestic, imported, and luxury vehicles, as well as hybrid and electric vehicles; used vehicle auctions; extended protection plans to customers at the time of sale; and reconditioning and vehicle repair services.